Facility Management Market |Future Trends, Industry Size & Share, Market Growth and Major Players
The Global Facility Management Market is Projected to Grow USD 2,031.4 billion at a CAGR of 6.7% During the Forecast Period | No of Pages 120
Global “Facility Management Market” study 2023, the industry landscape is covered from driving factors to upstream markets and the overall state of the market. An in-depth analysis of the overall growth prospects for the global and regional market was provided which was based on an in-depth analysis of key industry players, primary and secondary data.
Facility Management Market is projected to grow from USD 1,291.6 billion in 2023 to USD 2,031.4 billion by 2030, exhibiting a CAGR of 6.7% during the forecast period.
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List Of Top Key Player Of Facility Management Market:
- Sodexo (France)
- CBRE Group, Inc. (U.S.)
- ISS A/S (Denmark)
- Compass Group (U.K.)
- Tenon Group (India)
- Johnson Controls International plc. (Ireland)
- Dussmann Group (Germany)
- Serco Group PLC (U.K.)
- OCS Group International Limited (U.K.)
- Dussmann Gulf LLC (U.A.E.)
- G4S Plc (U.K.)
- EFS Facilities Services Group (U.A.E.)
- Veolia Environment (France)
Global Facility Management Market Growth report serves as an ideal solution for a better understanding of the Market. It is helpful in finding out the size of the Market for specific products. These major players operating in this Market are in strong competition in terms of technology, innovation, product development, and product pricing. The Market study aids in making sales forecasts for its products and thereby, establishing harmonious adjustment between demand and supply of its products.
Facility Management Market Segmentations:
By Service Type
- Hard Services
- Soft Services
- Other Services
By Industry Vertical
- Healthcare
- Government
- Education
- Military & Defense
- Real Estate
- Others (IT & Telecommunication, BFSI)
Market Drivers:
Government bodies across countries heavily invest in the construction and infrastructural sector. Infrastructural growth is heavily dependent on three components, renovation of existing buildings, new building construction, and civil engineering.
Geographically, the report includes research on production, consumption, revenue, market share, and growth rate in following regions:
- North America
- Europe
- Asia-Pacific
- South America
- The Middle East and Africa
Recent Developments
– Aramark, a global company engaged in uniforms & food and facilities management, announced a strategic partnership with Patient Engagement Advisors (PEA), an advanced technology platform that associates transition specialists with patients.
– CBRE Group, Inc. and Turner & Townsend Holdings Limited completed their acquisition. CBRE bought a 60% ownership stake in the company and entered into a strategic collaboration with Turner & Townsend. Turner & Townsend serves customers in 46 countries with program management, cost consulting, project management, and advisory consulting services. Real estate, infrastructure, and natural resources are the three business segments.
– Disrupt-X partnered with Imdaad to introduce IoT technology to enhance FM services in the UAE using Intel’s leading-edge technology and edge to cloud offerings.
– Farnek introduced HITEK solution 4.0, estimating that it could save up to 17% in manpower costs by transferring traditional FM operational management to HITEK’s smart management.
– Sodexo partnered with Bureau Veritas to introduce a hygiene verification label for Sodexo service that gives quality assurance to consumers. This partnership covers on-site facility management services and catering services. The label was introduced in the U.K., France, the U.S., Canada, and then gradually rolled out in other countries across the globe.
Research Methodology:
We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
Key Benefits of This Market Research:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Facility Management Market
- Overview of the Regional Outlook of the Facility Management Market
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